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Recently asked questions about conveyancing in Chesterfield

I am need of leasehold conveyancing for a flat in a fairly new development (6 years old) in Chesterfield. 95% of the flats have already been disposed of. Is it really necessary to order local searches for my conveyancing in Chesterfield?

Where you are obtaining a loan, your lender will need some (many) of the searches so you'll have no choice. If not, then Chesterfield conveyancing searches are for you to decide upon. No doubt your conveyancer, will 'advise', perhaps strongly, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Chesterfield.

I am buying a new build apartment in Chesterfield. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Chesterfield

    Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

I have been on the look out for a ground for flat up to £245,000 and identified one close by in Chesterfield I like with a park and station nearby, however it's only got 51 remaining years left on the lease. There is not much else in Chesterfield for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you require a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.

My cousin has suggested that I use his conveyancing solicitors in Chesterfield. Do I follow his advice?

No doubt the best way to find a conveyancing practitioner is to have referrals from friends or relatives who have previously instructed the solicitor you're are thinking of instructing.

We own a leasehold flat in Chesterfield. Conveyancing was completed in 2009. I have been told that I should not let the lease length fall too short. Is this correct?

Chesterfield leasehold properties are for a prescribed term - often 99 years when they are first granted. However many appartments in Chesterfield were built or converted in the 60’s and so such leases now have fewer than eighty years unexpired. That may seem like plenty of time however Banks, Building Societies and other mortgage companies on the whole need leases to have at least 75 years left to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are getting close to 75 years. To maximise your property value you should be considering whether or not to extend your lease long before you come to sell it. There are also significant benefits to doing so before the lease hits eighty years as when the lease falls below 80 years the premium you have to pay to extend starts to get a lot more expensive.

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Dronfield
Chesterfield

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